The Entities in Sri Lanka are required to maintain proper and accurate accounting records, and prepare financial statements in accordance with the standards issued by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) which are called Sri Lanka Financial Reporting Standards (SLFRS)
YourGlobalPro professionals assist you with the entire bookkeeping and accounting services for your Sri Lanka Business Set up as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In Sri Lanka, all Companies are required to prepare annual financial statements and have them audited by professionally qualified auditors who must be the members of CA Sri Lanka, holding a certificate to practice. The companies’ financial statements are prepared as at 31st March as at their year-end and submitted for Registration to the Department of Registrar of Companies.
Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals provide auditing services for your business as required by your business.
The Central Bank of Sri Lanka is the central bank in Sri Lanka regulating the Banks in Sri Lanka. The accounts can be opened and maintained in multi-currency and is available for all major currencies with the commercial Banks.
The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening. The major banks in Sri Lanka are Amana Bank, Axis Bank Ltd., Bank of Ceylon, Cargills Bank Ltd., Citibank N.A., Commercial Bank of Ceylon PLC, Deutsche Bank AG, DFCC Bank PLC, Habib Bank Ltd., Hatton National Bank PLC, ICICI Bank Ltd., Indian Bank, Indian Overseas Bank, MCB Bank Ltd., National Savings Bank, National Development Bank PLC, Nations Trust Bank PLC, Pan Asia Banking Corporation PLC, People’s Bank, Public Bank Berhad, Sampath Bank PLC, Seylan Bank PLC, Standard Chartered Bank, State Bank of India, The Hong Kong and Shanghai Banking Corporation Ltd. (HSBC), Union Bank of Colombo PLC. All banks are stable, reliable and offer the same level of services.
YourGlobalPro professionals a facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Sri Lanka.